subject: Chicago Cash Loan Eligibility Criteria [print this page] Cash advance loans are an easy way to obtain dollars in a short time so that you can get through till the next paycheck. The undeniable fact that cash advance loans can be obtained so quickly makes them a perfect and very effortless way to come up with money. So what are the requirements to qualify for a online payday loan in Chicago?
1) Age
The first criteria is age. You must be 18 years old or older to be able to enter a legitimate agreement
2) Employment
You must have a job that you have been working for at least 3 months in the past. You have to key in the information on your work place, usually Chicago loan providers will need to know a contact details from your workplace.
3) Salary Requirements
The minimum income requirement is $1000 a month. This is the earnings before taxes, so your take-home amount could be less. A few Chicago payday loan places will have somewhat higher requirements to your monthly earnings, a few will go as high as $1500 on monthly basis.
4) Need to have Checking account
Checking account with direct deposit feature is essential, in order that payday loan company to wire you money. Virtually any checking account will have that feature today, so you are safe there as long as you have a bank account. Additionally there is another requirement. The account cannot be new and you must have had it for not less than 3 month, similarly to your job.
Next step is to allow payday loan company to withdraw funds from your account. This way they will be able to take out money from your account when the time to pay back the loan comes.
Usually an online application for a payday loan will be followed by a call from a potential payday loan lender. Lending company associate will confirm your information and decide whether or not to offer you a loan or not. Most applicants get approved without any problems.
Bad Credit is OK
Most online payday loan companies do not mind bad credit applicants. Chicago payday loans is the best place to get bad credit payday loans in Chicago. They will approve you no matter what credit score you have given that you satisfy all the prerequisites listed above. This website will also help you get with the cheapest interest percentage for a cash loan in Chicago.
Chicago Cash Loan Eligibility Criteria
By: Paul Watson
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